Concept

Cuvva is an iOS app enabling users to buy short-term car insurance cover from a smartphone, from point-of-download to insured in less than 10 minutes. Drivers register their details, take photo of the vehicle to be insured, enter cover duration and authorise payment all via the company app.

How they’re disrupting

Cuvva consulted with underwriters to understand how short term risk is calculated, and then worked with insurance regulators to develop short-term price offerings. The startup is able to out execute legacy insurance companies built on older technology by being developed on top of the DVLA’s new data API, allowing the app to query the driving license database on your behalf, flagging up any potential problems and allow them to issue insurance almost immediately.

Disruption potential

$671 billion global auto insurance market.

Investments and future

Cuvva raised £400k in seed funding from an Edinburgh-based private angel syndicate in January 2016, to add to their £110k of angel funding raised in 2015.